Summary
Will the CFPA become a reality?
Analysis
Corporate governance & Sarbanes-Oxley made its way to the table, then why not the CFPA? America has since time began been about the protection of our rights! Why then are so many opposed to the idea of another agency to over that protection? Is it really just the conservative Democrats stalling this concept, of in reality the many financial institutions that would be affected. If the people pushing this can work out the obvious Federal pre-emption issues this may sail thru. http://pubcit.typepad.com/clpblog/2009/09/new-paper-debunks-industry-arguments-that-cfpa-should-preempt-state-law.html After all, why shouldn't there be a federal agency to protect consumers from those questionable financial firms & defective products! Th american people just want to rely on what is right & fair, and not have to always read between the lines. The CFPA may force companies to more thoroughly explain their products & to offer what for some would be just basic products, not just the convoluted ones! It is somewhat unfortunate it takes an act of congress to make it happen, but so be it if it does! Barney Frank will not let this go, nor should he.
Martin Alpert consults with leading institutions through GLG
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
